What is his cash position at the end of month

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Question 1. Erica wishes to purchase a property worth $500 000 by drawing $30 000 from her RRSP under eth home buyer's plan, and another $40 000 she has saved in her TFSA. She will fund the rest of the purchase with a mortgage. Calculate the loan to value of the mortgage. enter only a number not a percentage.

Question 2. Calculate the net worth (or net debt) of a person with the following: house valued at $200 000, with a mortgage of $150 000; car valued at $30 000 with an outstanding lien of $20 000; a bank account with $3 200; an RRSP valued at $45 000 and an RRSP loan of $10 000, and an unsecured line of credit at $3 300.

Question 3. Jeremy reports the following: monthly net income of $4 000, and monthly rent/shelter costs of $2 200, car payment charges of $300, and student debt payments of $200. He owes $7 000 in student debt and his car loan is $10 000. What is his cash position at the end of month using these figures.

Reference no: EM133328152

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